SES AI Corporation (NYSE:SES) Short Interest Down 15.6% in March

SES AI Corporation (NYSE:SES) was the target of a significant decrease in short interest in March. As of March 13th, there was short interest totaling 12,035,666 shares, a decrease of 15.6% from the February 26th total of 14,261,090 shares. Currently, 3.8% of the shares of the stock are short sold. Based on an average daily volume of 15,704,034 shares, the short-interest ratio is presently 0.8 days.

SES AI Stock Down 0.6%

Shares of SES AI stock opened at $0.96 on Thursday. The firm has a market cap of $350.49 million, a PE ratio of -4.35 and a beta of 0.85. SES AI has a 52 week low of $0.42 and a 52 week high of $3.73. The business’s fifty day simple moving average is $1.57 and its 200-day simple moving average is $1.94.

SES AI (NYSE:SES) last issued its quarterly earnings data on Wednesday, March 4th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. SES AI had a negative return on equity of 28.19% and a negative net margin of 347.81%.The firm had revenue of $4.56 million during the quarter, compared to the consensus estimate of $6.64 million. As a group, equities analysts expect that SES AI will post -0.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SES has been the topic of several recent research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of SES AI in a research report on Thursday, March 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SES AI in a research note on Wednesday, January 21st. Finally, Wall Street Zen lowered shares of SES AI from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, SES AI currently has a consensus rating of “Hold” and an average price target of $4.00.

Insider Activity at SES AI

In related news, insider Kyle Pilkington sold 25,000 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $1.20, for a total value of $30,000.00. Following the completion of the sale, the insider owned 780,203 shares of the company’s stock, valued at approximately $936,243.60. This trade represents a 3.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Hong Gan sold 100,000 shares of SES AI stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $2.50, for a total value of $250,000.00. Following the transaction, the insider owned 1,253,286 shares in the company, valued at approximately $3,133,215. The trade was a 7.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 275,000 shares of company stock valued at $655,000. Insiders own 13.80% of the company’s stock.

Institutional Investors Weigh In On SES AI

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Gainplan LLC purchased a new position in shares of SES AI during the 4th quarter worth approximately $30,000. Hudson Bay Capital Management LP acquired a new stake in SES AI in the 2nd quarter valued at approximately $31,000. Verdence Capital Advisors LLC raised its position in SES AI by 42.9% in the third quarter. Verdence Capital Advisors LLC now owns 20,000 shares of the company’s stock valued at $33,000 after purchasing an additional 6,000 shares during the period. Raymond James Financial Inc. raised its position in SES AI by 35.1% in the third quarter. Raymond James Financial Inc. now owns 20,268 shares of the company’s stock valued at $34,000 after purchasing an additional 5,268 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new position in SES AI during the fourth quarter worth $38,000. 29.78% of the stock is owned by hedge funds and other institutional investors.

About SES AI

SES AI Corporation engages in the development and production of high-performance Lithium-metal rechargeable batteries for electric vehicles, electric vehicle take-off and landing, and other applications. The company was founded in 2012 and is headquartered in Woburn, Massachusetts.